Is the Bitcoin bubble about to burst?

[PK99]

Wealth Manager friend was in Glasgow last week meeting clients, cabbie learnt he was in finance and immediately asked about how to go about buying bitcoin, as all the guys down the pub were talking about doing it..... another bubble-box ticked!

my mate commented that City Investment managers and advisers have been instructed by their regulator to have nothing to do with bitcoin - it is not, and will not be, regulated.

 

[nickyboy]

Bitcoin peaked at $19,700 on Monday. It is currently $12,400. So if you bought 4 days ago, you've lost 37% of your investment

 

[Tin Pot]

Bitcoin peaked at $19,700 on Monday. It is currently $12,400. So if you bought 4 days ago, you've lost 37% of your investment

Absolutely shocking. Who could have foreseen such volatility?

Oh, everyone.

 

[classic33]

37 minutes ago ... The price of bitcoin tumbled 30 per cent on Friday, with the rout accelerating early in the New York morning.

Edited to add original posting time
14:46, 22nd December.

 

[nickyboy]

Absolutely shocking. Who could have foreseen such volatility?

Oh, everyone.

I suspect you know about this sort of stuff already....but the writing was on the wall as soon as you could trade futures

 

[mjr]

Wealth Manager friend was in Glasgow last week meeting clients, cabbie learnt he was in finance and immediately asked about how to go about buying bitcoin, as all the guys down the pub were talking about doing it..... another bubble-box ticked!

my mate commented that City Investment managers and advisers have been instructed by their regulator to have nothing to do with bitcoin - it is not, and will not be, regulated.

It cannot be regulated any further. It is what is whatever it is.

Bank exchange rate regulation isn't exactly possible either, though. It's all fiction propped up by belief.

 

[Fnaar]

I'm putting my money into tulips

 

[Dirk]

Pork belly futures all the way for me.

 

[Joey Shabadoo]

It'll never succeed with the wealthy until you can snort a line of coke through a rolled up bitcoin.

 

[classic33]

Pork belly futures all the way for me.

At this time of year!

 

[Drago]

Can you play shove ha'penny with Bitcoin?

 

[nickyboy]

I suspect these unconventional currencies will have an important role to play in the world's economy in the future in ways we can't envisage at the moment. But exactly which of these currencies (and there are loads now) and when and what they will support is anyone's guess

So trying to assign a value to these crypto currencies is uber difficult, certainly way beyond me. So no way I would invest in them. I suspect 99% of people investing in cryptos don't really understand what they have invested in and are just hoping to ride a momentum wave. History shows that small time investors are incredibly poor at calling the top of the market and they hold and hold, then it crashes and they can't sell as nobody wants to buy

 

[PK99]

It cannot be regulated any further. It is what is whatever it is.

Bank exchange rate regulation isn't exactly possible either, though. It's all fiction propped up by belief.

Not quite my point, my Wealth Manager friend is not allowed to invest in bitcoin on behalf of any of his clients nor allowed to advise them in any way - he would lose his registration if he did.

 

[Speicher]

I'm putting my money into tulips

I hope your future is very rosy!

 

[Speicher]

I'm putting my money into tulips

I hope your future is very rosy!